| Delaware                                                                                    |   | 81-0304651                                                        |
|---------------------------------------------------------------------------------------------|--------|-------------------------------------------------------------------|
| (State                or other jurisdiction ofincorporation                or organization) |   | (I.R.S.                EmployerIdentification                No.) |

| 5439                South Prince Street Littleton                Colorado 80120 |
|---------------------------------------------------------------------------------|
| (Address                of principal executive offices)                         |

| Not                Applicable.                                                                                   |
|------------------------------------------------------------------------------------------------------------------|
| (Former                name, former address and former fiscal year, if changed since last                report) |

----

**PART      I - FINANCIAL INFORMATION**

| **ITEM                1.****FINANCIAL                STATEMENTS** |
|-------------------------------------------------------------------|

| Balance                Sheets                                                                     |   |   | 2      |   |
|---------------------------------------------------------------------------------------------------|--------|--------|--------|--------|
| Statements                of Operations                                                           |   |   | 3      |   |
| Statement                of Stockholders’ Equity (Deficit)                                  |   |   | 4      |   |
| Statements                of Cash Flows                                                           |   |   | 10     |   |
| NOTES                TO THE FINANCIAL STATEMENTS                                                  |   |   | 11     |   |
|                                                                                              |   |   |   |   |
| **PART II                - OTHER INFORMATION**                                     |
|                                                                                              |   |   |   |   |
| **ITEM              1. LEGAL PROCEEDINGS**                                                   |   |   | 24     |   |
|                                                                                              |   |   |   |   |
| **ITEM              2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF              PROCEEDS** |   |   | 24     |   |
|                                                                                              |   |   |   |   |
| **ITEM              3. DEFAULTS UPON SENIOR SECURITIES**                                     |   |   | 25     |   |
|                                                                                              |   |   |   |   |
| **ITEM              4. SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS**                      |   |   | 25     |   |
|                                                                                              |   |   |   |   |
| **ITEM              5. OTHER INFORMATION**                                                        |   |   | 26     |   |
|                                                                                              |   |   |   |   |
| **ITEM              6. EXHIBITS AND REPORTS ON FORM 8-K**                                         |   |   | 26     |   |
|                                                                                              |   |   |   |   |

----

| **TREND                MINING COMPANY**                           |
|-----------------------------------------------------------------------------|
| **(An                Exploration Stage Company)**                 |
| **BALANCE                SHEETS**                                 |
|                                                                        |   |   |   |    |   |
|                                                                        |   | December                31, |   |  September                30, |   |
|                                                                        |   | 2005 |   |  2005 |   |
|                                                                        |   | (unaudited) |   |  (restated) |   |
| **ASSETS**                                                                  |   |   |   |    |   |
|                                                                        |   |   |   |    |   |
| CURRENT                ASSETS                                               |   |   |   |    |   |
| Cash                                                                   |   | $ | 639,644 |   | $ | 64,391 |   |
| Accounts                Receivable                                     |   |   | 42,500 |   |   | 42,500 |   |
| Receivable                from sale of mining interest                 |   |   | - |   |   | 1,122,975 |   |
| Prepaid                expenses                                        |   |   | 9,285 |   |   | 13,494 |   |
|  TOTAL                CURRENT ASSETS                                   |   |   | 691,429 |   |   | 1,243,360 |   |
|                                                                        |   |   |   |   |   |   |   |
| MINERAL                PROPERTIES                                           |   |   | - |   |   | - |   |
|                                                                        |   |   |   |   |   |   |   |
| PROPERTY                AND EQUIPMENT, net of depreciation                  |   |   | 12,337 |   |   | 13,027 |   |
|                                                                        |   |   |   |   |   |   |   |
| OTHER                ASSETS                                                 |   |   |   |   |   |   |   |
| Reclamation                Bind                                        |   |   | 1,000 |   |   | 6,500 |   |
|                                                                        |   |   |   |   |   |   |   |
| **TOTAL                ASSETS**                                             |   | $ | 704,766 |   | $ | 1,262,887 |   |
|                                                                        |   |   |   |   |   |   |   |
| **LIABILITIES                AND STOCKHOLDERS' DEFICIT**                    |   |   |   |   |   |   |   |
|                                                                        |   |   |   |   |   |   |   |
| CURRENT                LIABILITIES                                          |   |   |   |   |   |   |   |
| Accounts                payable                                        |   | $ | 184,611 |   | $ | 519,631 |   |
| Accounts                payable related party                          |   |   | 15,000 |   |   | 15,000 |   |
| Accrued                expenses                                        |   |   | 5,941 |   |   | 76,082 |   |
| Interest                payable, related parties                       |   |   | 235,864 |   |   | 209,786 |   |
| Interest                payable, convertible debt                      |   |   | 26,715 |   |   | 12,747 |   |
| Loans                payable to related parties                        |   |   | 1,632,857 |   |   | 1,692,857 |   |
| Current                portion of long term convertible debt           |   |   | 304,404 |   |   | 304,404 |   |
|  TOTAL                CURRENT LIABILITIES                              |   |   | 2,405,392 |   |   | 2,830,507 |   |
|                                                                        |   |   |   |   |   |   |   |
| LONG-TERM                LIABILITES                                         |   |   |   |   |   |   |   |
| Convertible                Debt                                        |   |   | 329,151 |   |   | 290,983 |   |
|                                                                        |   |   |   |   |   |   |   |
| COMMITMENTS                AND CONTINGENCIES                                |   |   | - |   |   | - |   |
|                                                                        |   |   |   |   |   |   |   |
| STOCKHOLDERS'                DEFICIT                                        |   |   |   |   |   |   |   |
| Preferred                stock, $0.01 par value, 20,000,000 shares     |   |   |   |   |   |   |   |
|  authorized; none                issued and outstanding           |   |   | - |   |   | - |   |
| Common                stock, $0.01 par value, 100,000,000              |   |   |   |   |   |   |   |
|  shares                authorized; 40,043,717 and                      |   |   |   |   |   |   |   |
|  37,373,300                shares issued and outstanding, respectively |   |   | 400,437 |   |   | 373,733 |   |
| Additional                paid-in capital                              |   |   | 8,326,726 |   |   | 8,025,700 |   |
| Stock                options and warrants                              |   |   | 1,762,647 |   |   | 1,762,647 |   |
| Pre-exploration                stage accumulated deficit               |   |   | (558,504 | ) |   | (558,504 | ) |
| Accumulated                deficit during exploration stage            |   |   | (12,396,003 | ) |   | (11,897,099 | ) |
| Beneficial                Conversion rights                            |   |   | 434,920 |   |   | 434,920 |   |
|  TOTAL                STOCKHOLDERS' DEFICIT                            |   |   | (2,029,777 | ) |   | (1,858,603 | ) |
|                                                                        |   |   |   |   |   |   |   |
| **TOTAL                LIABILITIES AND**                                    |   |   |   |   |   |   |   |
| **STOCKHOLDERS'                DEFICIT**                               |   | $ | 704,766 |   | $ | 1,262,887 |   |
|                                                                        |   |   |   |   |   |   |   |

----

| **TREND                MINING COMPANY**                                  |
|--------------------------------------------------------------------------|
| **(An                Exploration Stage Company)**                        |
| **STATEMENTS                OF OPERATIONS**                              |
|                                                                     |   |   |   |   |   | Period                from |   |
|                                                                     |   |   |   |   |   | October                1, 1996 |   |
|                                                                     |   |   |   |   |   | (Inception                of |   |
|                                                                     |   | Three                Months |   | Three                Months |   | Exploration                Stage) |   |
|                                                                     |   | Ended |   | Ended |   | to |   |
|                                                                     |   | December                31, |   | December                31, |   | December                31, |   |
|                                                                     |   | 2005 |   | 2004 |   | 2005 |   |
|                                                                     |   | (unaudited) |   | (unaudited) |   | (unaudited) |   |
|                                                                     |   |   |   |   |   |   |   |
| REVENUES                                                                 |   | $ | - |   | $ | - |   | $ | - |   |
|                                                                     |   |   |   |   |   |   |   |   |   |   |
| EXPENSES                                                                 |   |   |   |   |   |   |   |   |   |   |
| Exploration                expense                                  |   |   | 7,051 |   |   | 19,013 |   |   | 3,151,172 |   |
| General                and administrative                           |   |   | 58,518 |   |   | 40,910 |   |   | 3,225,475 |   |
| Officers                and directors compensation                  |   |   | 140,938 |   |   | 29,992 |   |   | 2,227,604 |   |
| Legal                and professional                               |   |   | 168,433 |   |   | 11,511 |   |   | 1,846,832 |   |
| Depreciation                                                        |   |   | 689 |   |   | 892 |   |   | 56,193 |   |
|  Total                Expenses                                      |   |   | 375,629 |   |   | 102,318 |   |   | 10,507,276 |   |
|                                                                     |   |   |   |   |   |   |   |   |   |   |
| OPERATING                LOSS                                            |   |   | (375,629 | ) |   | (102,318 | ) |   | (10,507,276 | ) |
|                                                                     |   |   |   |   |   |   |   |   |   |   |
| OTHER                INCOME (EXPENSE)                                    |   |   |   |   |   |   |   |   |   |   |
| Dividend                and interest income                         |   |   | 3,367 |   |   | - |   |   | 15,693 |   |
| Settlement                Expense                                   |   |   |   |   |   |   |   |   | (26,250 | ) |
| Gain                (loss) on disposition and impairment of assets  |   |   | - |   |   | - |   |   | (175,019 | ) |
| Gain                on sale of mineral properties                   |   |   | - |   |   | - |   |   | 69,805 |   |
| (Gain)                loss on investment sales                      |   |   | - |   |   | - |   |   | (63,813 | ) |
| Financing                expense                                    |   |   | (108,477 | ) |   | - |   |   | (1,830,145 | ) |
| Interest                expense                                     |   |   | (66,165 | ) |   | (28,644 | ) |   | (577,789 | ) |
| Exchange                gain (loss)                                 |   |   |   |   |   |   |   |   | (6,015 | ) |
| Other                income                                         |   |   | - |   |   | - |   |   | 26,845 |   |
| Forgiveness                of debt                                  |   |   | 48,000 |   |   | - |   |   | 677,961 |   |
|  Total                Other Income (Expense)                        |   |   | (123,275 | ) |   | (28,644 | ) |   | (1,888,727 | ) |
|                                                                     |   |   |   |   |   |   |   |   |   |   |
| LOSS                BEFORE INCOME TAXES                                  |   |   | (498,904 | ) |   | (130,962 | ) |   | (12,396,003 | ) |
|                                                                     |   |   |   |   |   |   |   |   |   |   |
| INCOME                TAXES                                              |   |   | - |   |   | - |   |   | - |   |
|                                                                     |   |   |   |   |   |   |   |   |   |   |
| NET                LOSS                                                  |   | $ | (498,904 | ) | $ | (130,962 | ) | $ | (12,396,003 | ) |
|                                                                     |   |   |   |   |   |   |   |   |   |   |
| BASIC                AND DILUTED NET LOSS PER SHARE                      |   | $ | (0.01 | ) | $ | nil |   |   |   |   |
|                                                                     |   |   |   |   |   |   |   |   |   |   |
| WEIGHTED                AVERAGE NUMBER OF                                |   |   |   |   |   |   |   |   |   |   |
| COMMON                SHARES OUTSTANDING                            |   |   | 38,709,272 |   |   | 35,974,382 |   |   |   |   |
|                                                                     |   |   |   |   |   |   |   |   |   |   |

----

| **TREND                  MINING COMPANY**                                                                                                     |   |                          |      |    |   |    |   |                    |      |    |   |                            |   |    |       |
|-----------------------------------------------------------------------------------------------------------------------------------------------|--------|-------------------------------|-----------|--------------|--------|---------|--------|------------------------------|-----------|--------------|--------|--------------------------------------|--------|--------------|------------|
| **(An                  Exploration Stage Company)**                                                                                           |   |                          |      |    |   |    |   |                    |      |    |   |                            |   |    |       |
| **STATEMENT                  OF STOCKHOLDERS' EQUITY                  (DEFICIT)**           |
|                                                                                                                                          |   |                          |      |    |   |    |   |                    |      |    |   |                            |   |    |       |
|                                                                                                                                          |   | Common                  Stock |      | Additional   |   | Stock   |   |                    |      | Other        |   |                            |   |
|                                                                                                                                          |   | Number                        |      |    |   | Paid-in |   | Options                  and |      | Accumulated  |   | Comprehensive                        |   |    |       |
|                                                                                                                                          |   | of                  Shares    |      | Amount       |   | Capital |   | Warrants                     |      | Deficit      |   | Income                  (Loss)  |   | Total        |       |
|                                                                                                                                          |   |                          |      |    |   |    |   |                    |      |    |   |                            |   |    |       |
| Balance,                  October 1, 1996                                                                                                     |   |                          | 1,754,242 |         | $      | 17,542  |   | $                            | 663,218   |         | $      | -                                    |   | $            | (558,504   | ) | $ | - |   | $ | 122,256 |   |
|                                                                                                                                          |   |                          |      |         |   |    |   |                         |      |         |   |                                 |   |         |       |   |   |   |   |   |   |   |
| Common                  stock issuances as follows:                                                                                           |   |                          |      |         |   |    |   |                         |      |         |   |                                 |   |         |       |   |   |   |   |   |   |   |
| -                  for cash at $0.50 per share                                                                                           |   |                          | 200,000   |         |   | 2,000   |   |                         | 98,000    |         |   | -                                    |   |         | -          |   |   | - |   |   | 100,000 |   |
| -                  for payment of liabilities and expenses at $0.50                                                                      |   |                          |      |         |   |    |   |                         |      |         |   |                                 |   |         |       |   |   |   |   |   |   |   |
|  per                  share                                                                                                              |   |                          | 45,511    |         |   | 455     |   |                         | 22,301    |         |   | -                                    |   |         | -          |   |   | - |   |   | 22,756 |   |
|                                                                                                                                          |   |                          |      |         |   |    |   |                         |      |         |   |                                 |   |         |       |   |   |   |   |   |   |   |
| Net                  loss for the year ended September 30, 1997                                                                               |   |                          | -         |         |   | -       |   |                         | -         |         |   | -                                    |   |         | (128,614   | ) |   | - |   |   | (128,614 | ) |
| Balance,                  September 30, 1997                                                                                                  |   |                          | 1,999,753 |         |   | 19,997  |   |                         | 783,519   |         |   | -                                    |   |         | (687,118   | ) |   | - |   |   | 116,398 |   |
|                                                                                                                                          |   |                          |      |         |   |    |   |                         |      |         |   |                                 |   |         |       |   |   |   |   |   |   |   |
| Issuance                  of common stock as follows:                                                                                         |   |                          |      |         |   |    |   |                         |      |         |   |                                 |   |         |       |   |   |   |   |   |   |   |
| -                  for mineral property at $0.50 per share                                                                               |   |                          | 150,000   |         |   | 1,500   |   |                         | 73,500    |         |   | -                                    |   |         | -          |   |   | - |   |   | 75,000 |   |
| -                  for lease termination at $0.50 per share                                                                              |   |                          | 12,000    |         |   | 120     |   |                         | 5,880     |         |   | -                                    |   |         | -          |   |   | - |   |   | 6,000 |   |
| -                  for debt at $0.50 per share                                                                                           |   |                          | 80,000    |         |   | 800     |   |                         | 39,200    |         |   | -                                    |   |         | -          |   |   | - |   |   | 40,000 |   |
| -                  for cash at $0.20 per share                                                                                           |   |                          | 7,500     |         |   | 75      |   |                         | 1,425     |         |   | -                                    |   |         | -          |   |   | - |   |   | 1,500 |   |
| -                  for compensation at $0.50 per share                                                                                   |   |                          | 9,000     |         |   | 90      |   |                         | 4,410     |         |   | -                                    |   |         | -          |   |   | - |   |   | 4,500 |   |
|                                                                                                                                          |   |                          |      |         |   |    |   |                         |      |         |   |                                 |   |         |       |   |   |  |   |   |   |   |
| Issuance                  of stock options for financing activities                                                                           |   |                          | -         |         |   | -       |   |                         | -         |         |   | 2,659                                |   |         | -          |   |   | - |   |   | 2,659 |   |
|                                                                                                                                          |   |                          |      |         |   |    |   |                         |      |         |   |                                 |   |         |       |   |   |   |   |   |   |   |
| Net                  loss for the year ended September 30, 1998                                                                               |   |                          | -         |         |   | -       |   |                         | -         |         |   | -                                    |   |         | (119,163   | ) |   | - |   |   | (119,163 | ) |
|                                                                                                                                          |   |                          |      |         |   |    |   |                         |      |         |   |                                 |   |         |       |   |   |   |   |   |   |   |
| Change                  in market value of investments                                                                                        |   |                          | -         |         |   | -       |   |                         | -         |         |   | -                                    |   |         | -          |   |   | 117,080 |   |   | 117,080 |   |
| Balance,                  September 30, 1998                                                                                                  |   |                          | 2,258,253 |         |   | 22,582  |   |                         | 907,934   |         |   | 2,659                                |   |         | (806,281   | ) |   | 117,080 |   |   | 243,974 |   |
|                                                                                                                                          |   |                          |      |         |   |    |   |                         |      |         |   |                                 |   |         |       |   |   |   |   |   |   |   |
| Common                  stock issuances as follows:                                                                                           |   |                          |      |         |   |    |   |                         |      |         |   |                                 |   |         |       |   |   |   |   |   |   |   |
| -                  for cash at an average of $0.07 per share                                                                             |   |                          | 555,000   |         |   | 5,550   |   |                         | 35,450    |         |   | -                                    |   |         | -          |   |   | - |   |   | 41,000 |   |
| -                  for prepaid expenses at $0.33 per share                                                                               |   |                          | 50,000    |         |   | 500     |   |                         | 16,000    |         |   | -                                    |   |         | -          |   |   | - |   |   | 16,500 |   |
| -                  for consulting services at an average of                                                                              |   |                          |      |         |   |    |   |                         |      |         |   |                                 |   |         |       |   |   |   |   |   |   |   |
|  $0.20                  per share                                                                                                        |   |                          | 839,122   |         |   | 8,391   |   |                         | 158,761   |         |   | -                                    |   |         | -          |   |   | - |   |   | 167,152 |   |
| -                  for mineral property at $0.13 per share                                                                               |   |                          | 715,996   |         |   | 7,160   |   |                         | 82,470    |         |   | -                                    |   |         | -          |   |   | - |   |   | 89,630 |   |
| -                  for officers' compensation at an average of                                                                           |   |                          |      |         |   |    |   |                         |      |         |   |                                 |   |         |       |   |   |   |   |   |   |   |
|  $0.24                  per share                                                                                                        |   |                          | 300,430   |         |   | 3,004   |   |                         | 70,522    |         |   | -                                    |   |         | -          |   |   | - |   |   | 73,526 |   |
| -                  for debt, investment and expenses at $0.30 per share                                                                  |   |                          | 9,210     |         |   | 92      |   |                         | 2,671     |         |   | -                                    |   |         | -          |   |   | - |   |   | 2,763 |   |
| -                  for directors' compensation at an average of                                                                          |   |                          |      |         |   |    |   |                         |      |         |   |                                 |   |         |            |   |   |   |   |   |   |   |
|  $0.25                  per share                                                                                                        |   |                          | 16,500    |         |   | 165     |   |                         | 3,960     |         |   | -                                    |   |         | -          |   |   | - |   |   | 4,125 |   |
| -                  for rent at $0.25 per share                                                                                           |   |                          | 1,000     |         |   | 10      |   |                         | 240       |         |   | -                                    |   |         | -          |   |   | - |   |   | 250 |   |
| -                  for equipment at $0.30 per share                                                                                      |   |                          | 600,000   |         |   | 6,000   |   |                         | 174,000   |         |   | -                                    |   |         | -          |   |   | - |   |   | 180,000 |   |
|                                                                                                                                          |   |                          |      |         |   |    |   |                         |      |         |   |                                 |   |         |       |   |   |   |   |   |   |   |
| Net                  loss for the year ended September 30, 1999                                                                               |   |                          | -         |         |   | -       |   |                         | -         |         |   | -                                    |   |         | (716,759   | ) |   | - |   |   | (716,759 | ) |
|                                                                                                                                          |   |                          |      |         |   |    |   |                         |      |         |   |                                 |   |         |       |   |   |   |   |   |   |   |
| Other                  comprehensive loss                                                                                                     |   |                          | -         |         |   | -       |   |                         | -         |         |   | -                                    |   |         | -          |   |   | (79,179 | ) |   | (79,179 | ) |
| Balance,                  September 30, 1999                                                                                                  |   |                          | 5,345,511 |         | $      | 53,454  |   | $                            | 1,452,007 |         | $      | 2,659                                |   | $            | (1,523,040 | ) | $ | 37,901 |   | $ | 22,982 |   |

----

| **TREND                MINING COMPANY**                                |
|------------------------------------------------------------------------|
| **(An                Exploration Stage Company)**                      |
| **STATEMENT                  OF STOCKHOLDERS' EQUITY (DEFICIT)**       |
|                                                                   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                                   |   | Common                  Stock |   | Additional |   | Stock |   |   |   |   | Other |   |   |   |   |
|                                                                   |   | Number |   |   |   |   | Paid-in |   |  Options                  and |   |  Accumulated |   | Comprehensive |   |   |   |   |
|                                                                   |   | of                  Shares |   | Amount |   | Capital |   | Warrants |   | Deficit |   | Income                  (Loss) |   | Total |   |
|                                                                   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Balance,                  September 30, 1999                           |   |   | 5,345,511 |   | $ | 53,454 |   | $ | 1,452,007 |   | $ | 2,659 |   | $ | (1,523,040 | ) | $ | 37,901 |   | $ | 22,982 |   |
|                                                                   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Common                  stock and option issuances as follows:         |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| -                  for employee, officer and director             |   |   |   |   |   |   |   |   |  |   |   |   |   |   |   |   |   |   |   |   |   |   |
| compensation                  at an average of                    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| $0.61                  per share                                  |   |   | 231,361 |   |   | 2,314 |   |   | 140,446 |   |   | 15,820 |   |   | - |   |   | - |   |   | 158,580 |   |
| -                  for officers' and directors' compensation      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| at                  an average of $1.19 per share                 |   |   | 11,500 |   |   | 115 |   |   | 13,615 |   |   | - |   |   | - |   |   | - |   |   | 13,730 |   |
| -                  for services at an average of $0.47 per share  |   |   | 530,177 |   |   | 5,302 |   |   | 246,333 |   |   | - |   |   | - |   |   | - |   |   | 251,635 |   |
| -                  for mineral property at $0.89 per share        |   |   | 1,000,000 |   |   | 1,000 |   |   | 88,000 |   |   | - |   |   | - |   |   | - |   |   | 89,000 |   |
| -                  for investments at $0.33 per share             |   |   | 200,000 |   |   | 2,000 |   |   | 64,000 |   |   | - |   |   | - |   |   | - |   |   | 66,000 |   |
| -                  for cash at $0.08 per share                    |   |   | 456,247 |   |   | 4,562 |   |   | 28,969 |   |   | - |   |   | - |   |   | - |   |   | 33,531 |   |
| -                  for cash, options and warrants                 |   |   | 100,000 |   |   | 10,000 |   |   | 2,414 |   |   | 87,586 |   |   | - |   |   | - |   |   | 100,000 |   |
| -                  for incentive fees at $0.33 per share          |   |   | 65,285 |   |   | 653 |   |   | 20,891 |   |   | - |   |   | - |   |   | - |   |   | 21,544 |   |
| -                  for deferred mineral property acquisition      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| costs                  at $0.13 per share                         |   |   | 129,938 |   |   | 1,299 |   |   | 14,943 |   |   | - |   |   | - |   |   | - |   |   | 16,242 |   |
| -                  for modification of stockholder agreement      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| at                  $0.60 per share                               |   |   | 200,000 |   |   | 2,000 |   |   | 118,000 |   |   | 30,000 |   |   | - |   |   | - |   |   | 150,000 |   |
| -                  for modification of stockholder agreement      |   |   | - |   |   | - |   |   | 4,262 |   |   | 10,379 |   |   | - |   |   | - |   |   | 14,641 |   |
| -from                  exercise of options at $0.12 per share     |   |   | 9,962,762 |   |   | 99,628 |   |   | 1,103,016 |   |   | (37,524 | ) |   | - |   |   | - |   |   | 1,165,120 |   |
|                                                                   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Cash                  received for the issuance of common stock        |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| warrants                  for 7,979,761 shares of stock           |   |   | - |   |   | - |   |   | - |   |   | 10,000 |   |   | - |   |   | - |   |   | 10,000 |   |
|                                                                   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |  |   |   |   |   |
| Miscellaneous                  common stock adjustments                |   |   | (5 | ) |   | - |   |   | - |   |   | - |   |   | - |   |   | - |   |   | - |   |
|                                                                   |   |   |  |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Net                  loss for the year ended September 30, 2000        |   |   | - |   |   | - |   |   | - |   |   | - |   |   | (2,186,541 | ) |   | - |   |   | (2,186,541 | ) |
|                                                                   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Other                  comprehensive income (loss)                     |   |   | - |   |   | - |   |   | - |   |   | - |   |   | - |   |   | (38,314 | ) |   | (38,314 | ) |
|                                                                   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Balance,                  September 30, 2000                           |   |   | 18,232,776 |   | $ | 182,327 |   | $ | 3,296,896 |   | $ | 118,920 |   | $ | (3,709,581 | ) | $ | (413 | ) | $ | (111,850 | ) |

----

| **TREND                    MINING COMPANY**                                                                                                       |   |                            |       |    |   |    |   |                      |      |          |   |                        |   |    |       |
|---------------------------------------------------------------------------------------------------------------------------------------------------|--------|---------------------------------|------------|--------------|--------|---------|--------|--------------------------------|-----------|---------------|--------|----------------------------------|--------|--------------|------------|
| **(An                    Exploration Stage Company)**                                                                                             |   |                            |       |    |   |    |   |                      |      |          |   |                        |   |    |       |
| **STATEMENT                    OF STOCKHOLDERS' EQUITY (DEFICIT)                    (continued)**         |
|                                                                                                                                              |   |                            |       |    |   |    |   |                      |      |          |   |                        |   |    |       |
|                                                                                                                                              |   | Common                    Stock |       | Additional   |   | Stock   |   |                           |      | Other         |   |                        |   |
|                                                                                                                                              |   | Number                          |       |    |   | Paid-in |   | Options                    and |      | Accumulated   |   | Comprehensive                    |   |    |       |
|                                                                                                                                              |   | of                    Shares    |       | Amount       |   | Capital |   | Warrants                       |      | Deficit  |   | Income                    (Loss) |   | Total        |       |
|                                                                                                                                              |   |                            |       |    |   |    |   |                      |      |          |   |                        |   |    |       |
| Balance,                    September 30, 2000                                                                                                    |   |                            | 18,232,776 |         | $      | 182,327 |   | $                              | 3,296,896 |          | $      | 118,920                          |   | $            | (3,709,581 | ) | $ | (413 | ) | $ | (111,850 | ) |
|                                                                                                                                              |   |                            |       |         |   |    |   |                           |      |          |   |                             |   |         |       |   |   |   |   |   |   |   |
| Common                    stock and option issuances as follows:                                                                                  |   |                            |       |         |   |    |   |                           |      |          |   |                             |   |         |            |   |   |   |   |   |   |   |
| -                    for cash of $1.00 per share                                                                                             |   |                            | 192,000    |         |   | 1,920   |   |                           | 190,080   |          |   | -                                |   |         | -          |   |   | - |   |   | 192,000 |   |
| -                    for cash and consulting services from                                                                                   |   |                            |       |         |   |    |   |                           |      |          |   |                             |   |         |       |   |   |   |   |   |   |   |
|  options                    for $0.39 per share                                                                                              |   |                            | 33,333     |         |   | 333     |   |                           | 12,737    |          |   | (3,070                           | )      |         | -          |   |   | - |   |   | 10,000 |   |
| -                    for services at an average of $0.92 per share                                                                           |   |                            | 13,700     |         |   | 137     |   |                           | 12,463    |          |   | -                                |   |         | -          |   |   | - |   |   | 12,600 |   |
| -                    for officer and employee compensation at                                                                                |   |                            |       |         |   |    |   |                           |      |          |   |                             |   |         |       |   |   |   |   |   |   |   |
|  $1.13                    per share                                                                                                          |   |                            | 5,200      |         |   | 52      |   |                           | 5,828     |          |   | -                                |   |         | -          |   |   | - |   |   | 5,880 |   |
| -                    for payment of accrued officer's compensation                                                                           |   |                            |       |         |   |    |   |                           |      |          |   |                             |   |         |       |   |   |   |   |   |   |   |
|  at                    $1.35 per share                                                                                                       |   |                            | 10,000     |         |   | 100     |   |                           | 13,400    |          |   | -                                |   |         | -          |   |   | - |   |   | 13,500 |   |
| -                    for consulting services at an ave of $0.77 per share                                                                    |   |                            | 45,461     |         |   | 455     |   |                           | 34,247    |          |   | -                                |   |         | -          |   |   | - |   |   | 34,702 |   |
| -                    for directors' compensation at $0.85 per share                                                                          |   |                            | 75,000     |         |   | 750     |   |                           | 63,000    |          |   | -                                |   |         | -          |   |   | - |   |   | 63,750 |   |
| -                    for modification of contract at $0.78 per share                                                                         |   |                            | 3,000      |         |   | 30      |   |                           | 2,310     |          |   | -                                |   |         | -          |   |   | - |   |   | 2,340 |   |
| -                    for interest payment on contract                                                                                        |   |                            |       |         |   |    |   |                           |      |          |   |                             |   |         |       |   |   |   |   |   |   |   |
|  at                    an average of $0.80 per share                                                                                         |   |                            | 10,000     |         |   | 100     |   |                           | 7,900     |          |   | -                                |   |         | -          |   |   | - |   |   | 8,000 |   |
| -                    for mineral property expenses at $0.85 per share                                                                        |   |                            | 1,000      |         |   | 10      |   |                           | 840       |          |   | -                                |   |         | -          |   |   | - |   |   | 850 |   |
| -                    for debt at $1.00 per share                                                                                             |   |                            | 134,500    |         |   | 1,345   |   |                           | 133,155   |          |   | -                                |   |         | -          |   |   | - |   |   | 134,500 |   |
|                                                                                                                                              |   |                            |       |         |   |    |   |                           |      |          |   |                             |   |         |       |   |   |   |   |   |   |   |
| Options                    issued to officers, directors and employees for services                                                               |   |                            | -          |         |   | -       |   |                           | -         |          |   | 354,000                          |   |         | -          |   |   | - |   |   | 354,000 |   |
|                                                                                                                                              |   |                            |       |         |   |    |   |                           |      |          |   |                             |   |         |            |   |   |   |   |   |   |   |
| Warrants                    issued as follows:                                                                                                    |   |                            |            |         |   |         |   |                           |           |          |   |                             |   |         |       |   |   |   |   |   |   |   |
| -                    for consulting services                                                                                                 |   |                            | -          |         |   | -       |   |                           | -         |          |   | 170,521                          |   |         | -          |   |   | - |   |   | 170,521 |   |
| -                    for loan agreements                                                                                                     |   |                            | -          |         |   | -       |   |                           | -         |          |   | 141,547                          |   |         | -          |   |   | - |   |   | 141,547 |   |
| -                    for extension of exercise period                                                                                        |   |                            |       |         |   |    |   |                           |      |          |   |                             |   |         |       |   |   |   |   |   |   |   |
|  on                    outstanding warrants                                                                                                  |   |                            | -          |         |   | -       |   |                           | -         |          |   | 608,058                          |   |         | -          |   |   | - |   |   | 608,058 |   |
|                                                                                                                                              |   |                            |       |         |   |    |   |                           |      |          |   |                             |   |         |       |   |   |   |   |   |   |   |
| Net                    loss for the year ended September 30, 2001                                                                                 |   |                            | -          |         |   | -       |   |                           | -         |          |   | -                                |   |         | (3,437,354 | ) |   | - |   |   | (3,437,354 | ) |
|                                                                                                                                              |   |                            |       |         |   |    |   |                           |      |          |   |                             |   |         |       |   |   |   |   |   |   |   |
| Other                    comprehensive income                                                                                                     |   |                            | -          |         |   | -       |   |                           | -         |          |   | -                                |   |         | -          |   |   | 413 |   |   | 413 |   |
| Balance,                    September 30, 2001                                                                                                    |   |                            | 18,755,970 |         | $      | 187,559 |   | $                              | 3,772,856 |          | $      | 1,389,976                        |   | $            | (7,146,935 | ) | $ | - |   | $ | (1,796,543 | ) |
|                                                                                                                                              |   |                            |       |         |   |    |   |                           |      |          |   |                             |   |         |       |   |   |   |   |   |   |   |

----

| **TREND                  MINING COMPANY**                                                                                                     |   |   |   |    |   |   |   |    |   |   |   |    |   |    |   |
|-----------------------------------------------------------------------------------------------------------------------------------------------|--------|--------|--------|--------------|--------|--------|--------|--------------|--------|--------|--------|--------------|--------|--------------|--------|
| **(An                  Exploration Stage Company)**                                                                                           |   |   |   |    |   |   |   |    |   |   |   |    |   |    |   |
| **STATEMENT                  OF STOCKHOLDERS' EQUITY (DEFICIT)                  (continued)**         |
|                                                                                                                                          |   |   |   |    |   |   |   |         |   |   |   |         |   |    |   |

|                                                                                                                |   | Common                  Stock |       | Additional |   | Stock   |   |                         |      | Other       |   |                           |   |
|---------------------------------------------------------------------------------------------------------------------|--------|-------------------------------|------------|------------|--------|---------|--------|------------------------------|-----------|-------------|--------|--------------------------------|--------|
|                                                                                                                |   |  Number                  |       |       |   | Paid-in |   | Options                  and |      | Accumulated |   | Comprehensive                  |   |   |   |
|                                                                                                                |   | of                  Shares    |       | Amount     |   | Capital |   | Warrants                     |      | Deficit     |   | Income                  (Loss) |   | Total |   |
|                                                                                                                |   |                          |       |       |   |    |   |                         |      |        |   |                           |   |   |   |   |   |   |   |   |   |   |
| Balance,                  September 30, 2001                                                                        |   |                          | 18,755,970 |       | $      | 187,559 |   | $                            | 3,772,856 |        | $      | 1,389,976                      |   | $ | (7,146,935 | ) | $ | - |   | $ | (1,796,543 | ) |
|                                                                                                                |   |                          |       |       |   |    |   |                         |      |        |   |                           |   |   |   |   |   |   |   |   |   |   |
| Common                  stock issuances as follows:                                                                 |   |                          |       |       |   |    |   |                         |      |        |   |                           |   |   |   |   |   |   |   |   |   |   |
| -                  for cash at $0.10 per share                                                                 |   |                          | 2,500,000  |       |   | 25,000  |   |                         | 225,000   |        |   | -                              |   |   | - |   |   | - |   |   | 250,000 |   |
| -                  for a note payable at $1.00 per share                                                       |   |                          | 25,000     |       |   | 250     |   |                         | 24,750    |        |   | -                              |   |   | - |   |   | - |   |   | 25,000 |   |
| -                  for consulting fees payable at $0.55 per share                                              |   |                          | 12,536     |       |   | 126     |   |                         | 6,769     |        |   | -                              |   |   | - |   |   | - |   |   | 6,895 |   |
| -                  for mineral properties at $0.70 per share                                                   |   |                          | 1,100,000  |       |   | 11,000  |   |                         | 759,000   |        |   | -                              |   |   | - |   |   | - |   |   | 770,000 |   |
| -                  for services at an average of $0.49 per share                                               |   |                          | 112,500    |       |   | 1,125   |   |                         | 53,625    |        |   | -                              |   |   | - |   |   | - |   |   | 54,750 |   |
| -                  for financing expense at an average of $0.44 per                  share                     |   |                          | 82,429     |       |   | 824     |   |                         | 35,369    |        |   | -                              |   |   | - |   |   | - |   |   | 36,193 |   |
|                                                                                                                |   |                          |       |       |   |    |   |                         |      |        |   |                           |   |   |   |   |   |   |   |   |   |   |
| Options                  issued to officers, directors and employees for services                                   |   |                          | -          |       |   | -       |   |                         | -         |        |   | 29,528                         |   |   | - |   |   | - |   |   | 29,528 |   |
|                                                                                                                |   |                          |       |       |   |    |   |                         |      |        |   |                           |   |   |   |   |   |   |   |   |   |   |
| Warrants                  issued as follows:                                                                        |   |                          |       |       |   |    |   |                         |      |        |   |                           |   |   |   |   |   |   |   |   | - |   |
| -                  for loan agreements                                                                         |   |                          | -          |       |   | -       |   |                         | -         |        |   | 55,352                         |   |   | - |   |   | - |   |   | 55,352 |   |
|                                                                                                                |   |                          |       |       |   |    |   |                         |      |        |   |                           |   |   |   |   |   |   |   |   |   |   |
| Expiration                  of stock options and warrants                                                           |   |                          | -          |       |   | -       |   |                         | 91,814    |        |   | (91,814                        | )      |   | - |   |   | - |   |   | - |   |
|                                                                                                                |   |                          |       |       |   |    |   |                         |      |        |   |                           |   |   |   |   |   |   |   |   |   |   |
| Interest                  expense forgiven by shareholders                                                          |   |                          | -          |       |   | -       |   |                         | 42,950    |        |   | -                              |   |   | - |   |   | - |   |   | 42,950 |   |
|                                                                                                                |   |                          |       |       |   |    |   |                         |      |        |   |                           |   |   |   |   |   |   |   |   |   |   |
| Net                  loss for the year ended September 30, 2002                                                     |   |                          | -          |       |   | -       |   |                         | -         |        |   | -                              |   |   | (1,168,171 | ) |   | - |   |   | (1,168,171 | ) |
| Balance,                  September 30, 2002                                                                        |   |                          | 22,588,435 |       |   | 225,884 |   |                         | 5,012,133 |        |   | 1,383,042                      |   |   | (8,315,106 | ) |   | - |   |   | (1,694,046 | ) |
|                                                                                                                |   |                          |       |       |   |    |   |                         |      |        |   |                           |   |   |   |   |   |   |   |   |   |   |
| Common                  stock issuances as follows:                                                                 |   |                          |       |       |   |    |   |                         |      |        |   |                           |   |   |   |   |   |   |   |   |   |   |
| -                  miscellaneous common stock adjustment                                                       |   |                          | 29,555     |       |   | 296     |   |                         | -         |        |   | -                              |   |   | - |   |   | - |   |   | 296 |   |
| -                  for cash at $0.10 per share                                                                 |   |                          | 5,500,000  |       |   | 55,000  |   |                         | 495,000   |        |   | -                              |   |   | - |   |   | - |   |   | 550,000 |   |
| -                  for consulting services at an average of $0.15 per                  share                   |   |                          | 1,763,779  |       |   | 17,638  |   |                         | 243,362   |        |   | -                              |   |   | - |   |   | - |   |   | 261,000 |   |
| -                  for loans payable at an average of $0.10 per share                                          |   |                          | 369,160    |       |   | 3,692   |   |                         | 33,225    |        |   | -                              |   |   | - |   |   | - |   |   | 36,917 |   |
| -                  for prior period services at an average of $.13 per                  share                  |   |                          | 245,000    |       |   | 2,450   |   |                         | 30,550    |        |   | -                              |   |   | - |   |   | - |   |   | 33,000 |   |
| -                  for investments at $0.21 per share                                                          |   |                          | 450,000    |       |   | 4,500   |   |                         | 88,668    |        |   | -                              |   |   | - |   |   | - |   |   | 93,168 |   |
| -                  to                  officers and directors for services at $.10 per                  share  |   |                          | 1,423,156  |       |   | 14,232  |   |                         | 129,024   |        |   | -                              |   |   | - |   |   | - |   |   | 143,256 |   |
| -                  penalty shares at $.26 per share                                                            |   |                          | 860,000    |       |   | 8,600   |   |                         | 215,000   |        |   | -                              |   |   | - |   |   | - |   |   | 223,600 |   |
|                                                                                                                |   |                          |       |       |   |    |   |                         |      |        |   |                           |   |   |   |   |   |   |   |   |   |   |
| Change                  in marekt value of investments                                                              |   |                          | -          |       |   | -       |   |                         | -         |        |   | -                              |   |   | - |   |   | 1,800 |   |   | 1,800 |   |
|                                                                                                                |   |                          |       |       |   |    |   |                         |      |        |   |                           |   |   |   |   |   |   |   |   |   |   |
| Net                  loss for the year ended September 30, 2003                                                     |   |                          | -          |       |   | -       |   |                         | -         |        |   | -                              |   |   | (966,958 | ) |   | - |   |   | (966,958 | ) |
| Balance,                  September 30, 2003                                                                        |   |                          | 33,229,085 |       | $      | 332,291 |   | $                            | 6,246,963 |        | $      | 1,383,042                      |   | $ | (9,282,064 | ) | $ | 1,800 |   | $ | (1,317,968 | ) |
|                                                                                                                |   |                          |       |       |   |    |   |                         |      |        |   |                           |   |   |   |   |   |   |   |   |   |   |

----

| **TREND                  MINING COMPANY**                                                                                                                             |   |                          |       |    |   |    |   |                    |      |    |   |    |   |                      |    |    |   |
|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|-------------------------------|------------|--------------|--------|---------|--------|------------------------------|-----------|--------------|--------|--------------|--------|--------------------------------|---------|--------------|--------|
| **(An                  Exploration Stage Company)**                                                                                                                   |   |                          |       |    |   |    |   |                    |      |    |   |    |   |                      |    |    |   |
| **STATEMENT                  OF STOCKHOLDERS' EQUITY (DEFICIT)                  (continued)**             |   |
|                                                                                                                                                                  |   |                          |       |    |   |    |   |                    |      |    |   |    |   |                      |    |    |   |
|                                                                                                                                                                  |   | Common                  Stock |       | Additional   |   | Stock   |   | Beneficial                   |      |    |   | Other        |   |                      |    |
|                                                                                                                                                                  |   | Number                        |       |    |   | Paid-in |   | Options                  and |      | Conversion   |   | Accumulated  |   | Comprehensive                  |    |    |   |
|                                                                                                                                                                  |   | of                  Shares    |       | Amount       |   | Capital |   | Warrants                     |      | Rights       |   | Deficit      |   | Income                  (Loss) |    | Total        |   |
|                                                                                                                                                                  |   |                          |       |    |   |    |   |                    |      |    |   |    |   |                      |    |    |   |
| Balance,                  September 30, 2003                                                                                                                          |   |                          | 33,229,085 |         | $      | 332,291 |   | $                            | 6,246,963 |         | $      | 1,383,042    |   | $                              | -       |         | $      | (9,282,064 | ) | $ | 1,800 |   | $ | (1,317,968 | ) |
|                                                                                                                                                                  |   |                          |       |         |   |    |   |                         |      |         |   |         |   |                           |    |         |   |   |   |   |   |   |   |   |   |
| Common                  stock issuances as follows:                                                                                                                   |   |                          |       |         |   |    |   |                         |      |         |   |         |   |                           |    |         |   |   |   |   |   |   |   |   |   |
| -                  for cash at $0.20 per share                                                                                                                   |   |                          | 1,675,000  |         |   | 16,750  |   |                         | 318,250   |         |   | -            |   |                           | -       |         |   | - |   |   | - |   |   | 335,000 |   |
| -                  for consulting services at an average of $0.35 per                  share                                                                     |   |                          | 162,500    |         |   | 1,625   |   |                         | 54,800    |         |   | -            |   |                           | -       |         |   | - |   |   | - |   |   | 56,425 |   |
| -                  for accounts payable at an average of $.24 per share                                                                                          |   |                          | 626,130    |         |   | 6,261   |   |                         | 144,584   |         |   | -            |   |                           | -       |         |   | - |   |   | - |   |   | 150,845 |   |
| -                  for investments at $0.20 per share                                                                                                            |   |                          | 125,000    |         |   | 1,250   |   |                         | 23,750    |         |   | -            |   |                           | -       |         |   | - |   |   | - |   |   | 25,000 |   |
| -                  to                  officers and directors for services at $.12 per                  share                                                    |   |                          | 150,000    |         |   | 1,500   |   |                         | 16,500    |         |   | -            |   |                           | -       |         |   | - |   |   | - |   |   | 18,000 |   |
|                                                                                                                                                                  |   |                          |       |         |   |    |   |                         |      |         |   |         |   |                           |    |         |   |   |   |   |   |   |   |   |   |
| Expired                  options & warrants                                                                                                                       |   |                          | -          |         |   | -       |   |                         | 503,774   |         |   | (503,774     | )      |                           | -       |         |   | - |   |   | - |   |   | - |   |
|                                                                                                                                                                  |   |                          |       |         |   |    |   |                         |      |         |   |         |   |                           |    |         |   |   |   |   |   |   |   |   |   |
| Options                  issued to officers and directors for services                                                                                                |   |                          | -          |         |   | -       |   |                         | -         |         |   | 95,000       |   |                           | -       |         |   | - |   |   | - |   |   | 95,000 |   |
|                                                                                                                                                                  |   |                          |       |         |   |    |   |                         |      |         |   |         |   |                           |    |         |   |   |   |   |   |   |   |   |   |
| Gain                  on sale of internal securities                                                                                                                  |   |                          | -          |         |   | -       |   |                         | 210,194   |         |   | -            |   |                           | -       |         |   | - |   |   | - |   |   | 210,194 |   |
|  -                                                                                                                                                               |   |                          |       |         |   |    |   |                         |      |         |   |         |   |                           |    |         |   |   |   |   |   |   |   |   |   |
| Change                  in market value of investments                                                                                                                |   |                          | -          |         |   | -       |   |                         | -         |         |   | -            |   |                           | -       |         |   | - |   |   | (1,800 | ) |   | (1,800 | ) |
|                                                                                                                                                                  |   |                          |       |         |   |    |   |                         |      |         |   |         |   |                           |    |         |   |   |   |   |   |   |   |   |   |
| Net                  loss for the year ended September 30, 2004                                                                                                       |   |                          | -          |         |   | -       |   |                         | -         |         |   | -            |   |                           | -       |         |   | (992,688 | ) |   | - |   |   | (992,688 | ) |
| Balance,                  September 30, 2004                                                                                                                          |   |                          | 35,967,715 |         |   | 359,677 |   |                         | 7,518,815 |         |   | 974,268      |   |                           | -       |         |   | (10,274,752 | ) |   | - |   |   | (1,421,992 | ) |
|                                                                                                                                                                  |   |                          |       |         |   |    |   |                         |      |         |   |         |   |                           |    |         |   |   |   |   |   |   |   |   |   |
| Common                  stock issuances as follows:                                                                                                                   |   |                          |       |         |   |    |   |                         |      |         |   |         |   |                           |    |         |   |   |   |   |   |   |   |   |   |
| -                  for services at an average of $.23 per share                                                                                                  |   |                          | 199,585    |         |   | 1,996   |   |                         | 44,591    |         |   | -            |   |                           | -       |         |   | - |   |   | - |   |   | 46,587 |   |
| -                  for financing expenses at $0.345 per share                                                                                                    |   |                          | 210,000    |         |   | 2,100   |   |                         | 70,350    |         |   | -            |   |                           | -       |         |   | - |   |   | - |   |   | 72,450 |   |
| -                  for financing expenses at an average of $0.24 per                  share                                                                      |   |                          | 66,000     |         |   | 660     |   |                         | 15,500    |         |   | -            |   |                           | -       |         |   | - |   |   | - |   |   | 16,160 |   |
| -                  to                  officers and directors for services at $.23 per                  share                                                    |   |                          | 634,518    |         |   | 6,345   |   |                         | 139,655   |         |   | -            |   |                           | -       |         |   | - |   |   | - |   |   | 146,000 |   |
| -                  for convertible debt and interest                                                                                                             |   |                          | 295,482    |         |   | 2,955   |   |                         | 55,669    |         |   | -            |   |                           | -       |         |   | - |   |   | - |   |   | 58,624 |   |
|                                                                                                                                                                  |   |                          |       |         |   |    |   |                         |      |         |   |         |   |                           |    |         |   |   |   |   |   |   |   |   |   |
| Convertible                  debt issuance:                                                                                                                           |   |                          |       |         |   |    |   |                         |      |         |   |         |   |                           |    |         |   |   |   |   |   |   |   |   |   |
| -                  class A warrants at $0.15 per share                                                                                                           |   |                          | -          |         |   | -       |   |                         | -         |         |   | 51,577       |   |                           | -       |         |   | - |   |   | - |   |   | 51,577 |   |
| -                  class B warrants at $0.10 per share                                                                                                           |   |                          | -          |         |   | -       |   |                         | -         |         |   | 42,248       |   |                           | -       |         |   | - |   |   | - |   |   | 42,248 |   |
| -                  beneficial conversion rights at $0.19 per share                                                                                               |   |                          | -          |         |   | -       |   |                         | -         |         |   | -            |   |                           | 77,158  |         |   | - |   |   | - |   |   | 77,158 |   |
|                                                                                                                                                                  |   |                          |       |         |   |    |   |                         |      |         |   |         |   |                           |    |         |   |   |   |   |   |   |   |   |   |
| Cancellation                  of warrants and beneficial conversion rights                                                                                            |   |                          | -          |         |   | -       |   |                         | 170,983   |         |   | (93,825      | )      |                           | (77,158 | )            |   | - |   |   | - |   |   | - |   |
|                                                                                                                                                                  |   |                          |       |         |   |    |   |                         |      |         |   |         |   |                           |    |         |   |   |   |   |   |   |   |   |   |
| Options                  issued to officers and directors for services                                                                                                |   |                          | -          |         |   | -       |   |                         | -         |         |   | 143,840      |   |                           | -       |         |   | - |   |   | - |   |   | 143,840 |   |
|                                                                                                                                                                  |   |                          |       |         |   |    |   |                         |      |         |   |         |   |                           |    |         |   |   |   |   |   |   |   |   |   |
| Expiration                  of warrants                                                                                                                               |   |                          | -          |         |   | -       |   |                         | 10,137    |         |   | (10,137      | )      |                           | -       |         |   | - |   |   | - |   |   | - |   |
|                                                                                                                                                                  |   |                          |       |         |   |    |   |                         |      |         |   |         |   |                           |    |         |   |   |   |   |   |   |   |   |   |
| Convertible                  debt issuance:                                                                                                                           |   |                          |       |         |   |    |   |                         |      |         |   |         |   |                           |    |         |   |   |   |   |   |   |   |   |   |
| -                  class A warrants at an average of $0.15 per share                                                                                             |   |                          | -          |         |   | -       |   |                         | -         |         |   | 386,275      |   |                           | -       |         |   | - |   |   | - |   |   | 386,275 |   |
| -                  class B warrants at and average of $0.08 per share                                                                                            |   |                          | -          |         |   | -       |   |                         | -         |         |   | 183,136      |   |                           | -       |         |   | - |   |   | - |   |   | 183,136 |   |
| -                  beneficial conversion rights at $0.19 per share                                                                                               |   |                          | -          |         |   | -       |   |                         | -         |         |   | -            |   |                           | 306,587 |         |   | - |   |   | - |   |   | 306,587 |   |
|                                                                                                                                                                  |   |                          |       |         |   |    |   |                         |      |         |   |         |   |                           |    |         |   |   |   |   |   |   |   |   |   |
| Convertible                  debt issuance:                                                                                                                           |   |                          |       |         |   |    |   |                         |      |         |   |         |   |                           |    |         |   |   |   |   |   |   |   |   |   |
| -                  class A warrants at of $0.10 per share                                                                                                        |   |                          | -          |         |   | -       |   |                         | -         |         |   | 66,990       |   |                           | -       |         |   | - |   |   | - |   |   | 66,990 |   |
| -                  class B warrants at and average of $0.02 per share                                                                                            |   |                          | -          |         |   | -       |   |                         | -         |         |   | 18,275       |   |                           | -       |         |   | - |   |   | - |   |   | 18,275 |   |
| -                  beneficial conversion rights at $0.25 per share                                                                                               |   |                          | -          |         |   | -       |   |                         | -         |         |   | -            |   |                           | 128,333 |         |   | - |   |   | - |   |   | 128,333 |   |
|                                                                                                                                                                  |   |                          |       |         |   |    |   |                         |      |         |   |         |   |                           |    |         |   |   |   |   |   |   |   |   |   |
| Net                  loss for the year ended September 30, 2005 (restated)                                                                                            |   |                          | -          |         |   | -       |   |                         | -         |         |   | -            |   |                           | -       |         |   | (2,180,851 | ) |   | - |   |   | (2,180,851 | ) |
| Balance,                  September 30, 2005(restated)                                                                                                                |   |                          | 37,373,300 |         | $      | 373,733 |   | $                            | 8,025,700 |         | $      | 1,762,647    |   | $                              | 434,920 |         | $      | (12,455,603 | ) | $ | - |   |   | (1,858,603 | ) |

----

| **TREND                  MINING COMPANY**                                                                                                     |         |                                       |       |    |   |    |   |                    |      |    |   |    |   |    |    |
|-----------------------------------------------------------------------------------------------------------------------------------------------|--------------|--------------------------------------------|------------|--------------|--------|---------|--------|------------------------------|-----------|--------------|--------|--------------|--------|--------------|---------|
| **(An                  Exploration Stage Company)**                                                                                           |         |                                       |       |    |   |    |   |                    |      |    |   |    |   |    |    |
| **STATEMENT                  OF STOCKHOLDERS' EQUITY (DEFICIT)                  (continued)**         |    |                                       |
|                                                                                                                                          |         |                                       |       |    |   |    |   |                    |      |    |   |    |   |    |    |
|                                                                                                                                          |         | Common                  Stock    |       | Additional   |   | Stock   |   | Beneficial                   |      |    |   |    |   |
|                                                                                                                                          |         | Number                                     |       |    |   | Paid-in |   | Options                  and |      | Conversion   |   | Accumulated  |   |    |    |
|                                                                                                                                          |         | of                  Shares                 |       | Amount       |   | Capital |   | Warrants                     |      | Rights       |   | Deficit      |   | Total        |    |
|                                                                                                                                          |         |                                       |       |    |   |    |   |                    |      |    |   |    |   |    |    |
| Balance,                  September 30, 2005 (restated)                                                                                       |         |                                       | 37,373,300 |         | $      | 373,733 |   | $                            | 8,025,700 |         | $      | 1,762,647    |   | $            | 434,920 |   | $ | (12,455,603 | ) | $ | (1,858,603 | ) |
|                                                                                                                                          |         |                                       |       |         |   |    |   |                         |      |         |   |         |   |         |    |   |   |   |   |   |   |   |
| Common                  stock issuances as follows:                                                                                           |         |                                       |       |         |   |    |   |                         |      |         |   |         |   |         |    |   |   |   |   |   |   |   |
| -                  for services at $0.23 per share                                                                                       |         |                                       | 7,912      |         |   | 79      |   |                         | 1,721     |         |   | -            |   |         | -       |   |   | - |   |   | 1,800 |   |
| -                  for financing cash at $0.10 per share                                                                                 |         |                                       | 1,500,000  |         |   | 15,000  |   |                         | 135,000   |         |   | -            |   |         | -       |   |   | - |   |   | 150,000 |   |
| -                  to officers and directors for services at $0.15 per                  share                                            |         |                                       | 600,000    |         |   | 6,000   |   |                         | 84,000    |         |   | -            |   |         | -       |   |   | - |   |   | 90,000 |   |
| -                  for convertible debt and interest at an average                                                                       |         |                                       |       |         |   |    |   |                         |      |         |   |         |   |         |    |   |   |   |   |   |   |   |
|  of                  $0.15 per share                                                                                                     |         |                                       | 562,505    |         |   | 5,625   |   |                         | 80,305    |         |   | -            |   |         | -       |   |   | - |   |   | 85,930 |   |
|                                                                                                                                          |         |                                       |       |         |   |    |   |                         |      |         |   |         |   |         |    |   |   |   |   |   |   |   |
| Net                  loss for the three months ended December 31, 2005                                                                        |         |                                       |       |         |   |    |   |                         |      |         |   |         |   |         |    |   |   |   |   |   |   |   |
| (unaudited)                                                                                                                              |         |                                       | -          |         |   | -       |   |                         | -         |         |   | -            |   |         | -       |   |   | (498,904 | ) |   | (498,904 | ) |
| Balance,                  December 31, 2005 (unaudited)                                                                                       |         |                                       | 40,043,717 |         | $      | 400,437 |   | $                            | 8,326,726 |         | $      | 1,762,647    |   | $            | 434,920 |   | $ | (12,954,507 | ) | $ | (2,029,777 | ) |

----

| **TREND                  MINING COMPANY**                                                                     |
|---------------------------------------------------------------------------------------------------------------|
| **(An                  Exploration Stage Company)**                                                           |
| **STATEMENTS                  OF CASH FLOWS**                                                                 |
|                                                                                                          |   |   |   |   |   | Period                  from |   |
|                                                                                                          |   |   |   |   |   | October                  1, 1996 |   |
|                                                                                                          |   |   |   |   |   | (Inception                  of |   |
|                                                                                                          |   | Three                  Months |   | Three                  Months |   | Exploration                  Stage) |   |
|                                                                                                          |   | Ended |   | Ended |   | to |   |
|                                                                                                          |   | December                  31, |   | December                  31, |   | December                  31, |   |
|                                                                                                          |   | 2005 |   | 2004 |   | 2005 |   |
|                                                                                                          |   | (unaudited) |   | (unaudited) |   | (unaudited) |   |
|                                                                                                          |   |   |   |   |   |   |   |
|                                                                                                          |   |   |   |   |   |   |   |
| CASH                  FLOWS FROM OPERATING ACTIVITIES:                                                        |   |   |   |   |   |   |   |
| Net                  gain (loss)                                                                              |   | $ | (498,904 | ) | $ | (130,962 | ) | $ | (12,396,003 | ) |
| Adjustments                  to reconcile net loss to net cash used by operating                  activities: |   |   |   |   |   |  |   |   |   |   |
| Depreciation                                                                                             |   |   | 689 |   |   | 892 |   |   | 56,193 |   |
| Amortization                  of debt discount                                                           |   |   | 108,477 |   |   | - |   |   | 605,909 |   |
| Loss                  on investment sales                                                                |   |   | - |   |   | 6,220 |   |   | 68,969 |   |
| Loss                  (gain) on disposition and impairment of assets                                     |   |   | - |   |   | - |   |   | 183,391 |   |
| Gain                  on sale of minining interest                                                       |   |   | - |   |   | - |   |   | (69,805 | ) |
| Gain                  on sale of mineral property claims for securities                                  |   |   | - |   |   | - |   |   | (500 | ) |
| Gain                  on trade-in of property and equipment                                              |   |   | - |   |   | - |   |   | (7,872 | ) |
| Gain                  on forgiveness of debt                                                             |   |   | (48,000 | ) |   | - |   |   | (249,581 | ) |
| Interest                  expense forgiven by related parties                                            |   |   | - |   |   | - |   |   | 20,848 |   |
| Common                  stock issued for services                                                        |   |   |   |   |   |   |   |   |   |   |
| and                  financing expenses                                                                  |   |   | 1,800 |   |   | - |   |   | 1,266,971 |   |
| Common                  stock issued for payables and accrued expenses                                   |   |   |   |   |   | - |   |   | 219,656 |   |
| Common                  stock and options issued as compensation                                         |   |   | 90,000 |   |   | - |   |   | 1,211,215 |   |
| Stock                  options and warrants issued for financing activities                              |   |   | - |   |   | - |   |   | 822,257 |   |
| Common                  stock issued for investments                                                     |   |   | - |   |   | - |   |   | 93,168 |   |
| Common                  stock and warrants issued to acquire mineral                                     |   |   |   |   |   |   |   |   |   |   |
| property                  options                                                                        |   |   | - |   |   | - |   |   | 1,114,873 |   |
| Warrants                  issued for consulting fees                                                     |   |   | - |   |   | - |   |   | 170,521 |   |
| Common                  stock issued for incentive fees                                                  |   |   | - |   |   | - |   |   | 21,544 |   |
| Investment                  traded for services                                                          |   |   | - |   |   | - |   |   | 45,939 |   |
| Common                  stock issued for payment of interest                                             |   |   | 15,619 |   |   | - |   |   | 32,779 |   |
| Changes                  in assets and liabilities:                                                           |   |   |   |   |   |   |   |   |   |   |
| Prepaid                  expenses                                                                        |   |   | 4,209 |   |   | 1,796 |   |   | (5,480 | ) |
| Accounts                  receivable                                                                     |   |   | 1,122,975 |   |   |   |   |   | 1,080,475 |   |
| Accounts                  payable                                                                        |   |   | (335,019 | ) |   | 1,811 |   |   | 97,421 |   |
| Accounts                  payable, related parties                                                       |   |   | - |   |   | - |   |   | 15,000 |   |
| Accounts                  payable - checks in excess of bank balance                                     |   |   | - |   |   | - |   |   | 7 |   |
| Accrued                  expenses                                                                        |   |   | (22,141 | ) |   | 5,912 |   |   | (20,244 | ) |
| Reclamation                  bond                                                                        |   |   | 5,500 |   |   | - |   |   | (1,000 | ) |
| Interest                  payable, related parties                                                       |   |   | 26,078 |   |   | 22,424 |   |   | 209,806 |   |
| Interest                  payable, convertible debt                                                      |   |   | 13,970 |   |   | - |   |   | 26,717 |   |
| Net                  cash used by operating activities                                                        |   |   | 485,253 |   |   | (91,907 | ) |   | (5,386,826 | ) |
|                                                                                                          |   |   |   |   |   |   |   |   |   |   |
| CASH                  FLOWS FROM INVESTING ACTIVITIES:                                                        |   |   |   |   |   |   |   |   |   |   |
| Proceeds                  from sale of equipment                                                         |   |   | - |   |   | - |   |   | 37,626 |   |
| Purchase                  of fixed assets                                                                |   |   | - |   |   | - |   |   | (10,023 | ) |
| Proceeds                  from sales of mineral property                                                 |   |   | - |   |   | - |   |   | 223,000 |   |
| Costs                  of mining interest                                                                |   |   | - |   |   | - |   |   | (1,011,395 | ) |
| Purchase                  of furniture and equipment                                                     |   |   | - |   |   | - |   |   | (46,053 | ) |
| Proceeds                  from investments sold                                                          |   |   | - |   |   | - |   |   | 183,161 |   |
| Net                  cash provided by investing activities                                                    |   |   | - |   |   | - |   |   | (623,684 | ) |
|                                                                                                          |   |   |   |   |   |   |   |   |   |   |
| CASH                  FLOWS FROM FINANCING ACTIVITIES:                                                        |   |   |   |   |   |   |   |   |   |   |
| Payments                  on notes payable and short-term borrowings                                     |   |   | (60,000 | ) |   | - |   |   | (434,556 | ) |
| Payments                  on convertible debt                                                            |   |   | - |   |   | - |   |   | - |   |
| Proceeds                  from internal securities sale                                                  |   |   | - |   |   | - |   |   | 210,194 |   |
| Sale                  of warrants for common stock                                                       |   |   | - |   |   | - |   |   | 10,000 |   |
| Proceeds                  from borrowings                                                                |   |   | - |   |   | 197,038 |   |   | 3,794,157 |   |
| Sale                  of common stock, subscriptions                                                     |   |   |   |   |   |   |   |   |   |   |
| and                  exercise of options                                                                 |   |   | 150,000 |   |   | - |   |   | 2,843,151 |   |
| Issuance                  of penalty shares                                                              |   |   | - |   |   | - |   |   | 223,600 |   |
| Net                  cash provided by financing activities                                                    |   |   | 90,000 |   |   | 197,038 |   |   | 6,646,546 |   |
|                                                                                                          |   |   |   |   |   |   |   |   |   |   |
| NET                  INCREASE IN CASH                                                                         |   |   | 575,253 |   |   | 105,131 |   |   | 636,037 |   |
|                                                                                                          |   |   |   |   |   |   |   |   |   |   |
| CASH,                  BEGINNING OF PERIOD                                                                    |   |   | 64,391 |   |   | 8,313 |   |   | 3,607 |   |
|                                                                                                          |   |   |   |   |   |   |   |   |   |   |
| CASH,                  END OF PERIOD                                                                          |   | $ | 639,644 |   | $ | 113,444 |   | $ | 639,644 |   |
|                                                                                                          |   |   |   |   |   |   |   |   |   |   |
|                                                                                                          |   |   |   |   |   |   |   |   |   |   |
| SUPPLEMENTAL                  CASH FLOW INFORMATION:                                                          |   |   |   |   |   |   |   |   |   |   |
| Interest                  paid                                                                                |   | $ | 10,000 |   | $ | - |   | $ | 177,680 |   |
| Income                  taxes paid                                                                            |   | $ | - |   | $ | - |   | $ | - |   |
|                                                                                                          |   |   |   |   |   |   |   |   |   |   |
| NON-CASH                  FINANCING AND INVESTING ACTIVITIES:                                                 |   |   |   |   |   |   |   |   |   |   |
| Common                  stock and warrants issued to acquire                                                  |   |   |   |   |   |   |   |   |   |   |
| mineral                  properties                                                                           |   | $ | - |   | $ | - |   | $ | 344,873 |   |
| Common                  stock issued to acquire mineral property                                              |   | $ | - |   | $ | - |   | $ | 845,000 |   |
| Common                  stock issued for acquisition of                                                       |   |   |   |   |   |   |   |   |   |   |
| mining                  equipment                                                                             |   | $ | - |   | $ | - |   | $ | 180,000 |   |
| Common                  stock issued for services and expenses                                                |   | $ | 91,800 |   | $ | - |   | $ | 1,356,971 |   |
| Common                  stock issued for investment                                                           |   | $ | - |   | $ | - |   | $ | 185,168 |   |
| Common                  stock issued for payables and accrued expenses                                        |   | $ | - |   | $ | - |   | $ | 219,656 |   |
| Common                  stock issued for incentive fees                                                       |   | $ | - |   | $ | - |   | $ | 21,544 |   |
| Common                  stock and options issued as compensation                                              |   | $ | - |   | $ | - |   | $ | 1,121,215 |   |
| Common                  stock and options issued for payment of convertible debt                              |   | $ | 70,311 |   | $ | - |   | $ | 111,775 |   |
| Common                  stock and options issued for payment of interest                                      |   | $ | 15,619 |   | $ | - |   | $ | 32,779 |   |
| Stock                  options and warrants issued for financing activities                                   |   | $ | - |   | $ | - |   | $ | 822,257 |   |
| Warrants                  issued for consulting fees                                                          |   | $ | - |   | $ | - |   | $ | 170,521 |   |
| Deferred                  acquisition costs on mining property                                                |   | $ | - |   | $ | - |   | $ | 46,242 |   |
| Purchase                  of equipment with financing agreement                                               |   | $ | - |   | $ | - |   | $ | 21,814 |   |
| Investments                  received for mineral property                                                    |   | $ | - |   | $ | - |   | $ | 5,500 |   |
| Investments                  traded for services                                                              |   | $ | - |   | $ | - |   | $ | 45,939 |   |
| Equipment                  for loans payable                                                                  |   | $ | - |   | $ | - |   | $ | 4,500 |   |
| Warrants                  issued with convertible debt                                                        |   | $ | - |   | $ | - |   | $ | 654,676 |   |
| Beneficial                  conversion rights                                                                 |   | $ | - |   | $ | - |   | $ | 434,920 |   |

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**TREND      MINING COMPANY**

**(AN      EXPLORATION STAGE COMPANY)**

**CONDENSED      NOTES TO THE FINANCIAL STATEMENTS **

**DECEMBER      31, 2005**

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**NOTE        1 - BASIS OF PRESENTATION OF UNAUDITED INTERIM FINANCIAL        INFORMATION**

**NOTE        2 - ORGANIZATION AND DESCRIPTION OF BUSINESS**

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**TREND          MINING COMPANY**

**(AN          EXPLORATION STAGE COMPANY)**

**CONDENSED          NOTES TO THE FINANCIAL STATEMENTS**

**DECEMBER          31, 2005**

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**NOTE        3 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES**

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**TREND          MINING COMPANY**

**(AN          EXPLORATION STAGE COMPANY)**

**CONDENSED          NOTES TO THE FINANCIAL STATEMENTS **

**DECEMBER          31, 2005**

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**TREND          MINING COMPANY**

**(AN          EXPLORATION STAGE COMPANY)**

**CONDENSED          NOTES TO THE FINANCIAL STATEMENTS **

**DECEMBER          31, 2005**

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**TREND          MINING COMPANY**

**(AN          EXPLORATION STAGE COMPANY)**

**CONDENSED          NOTES TO THE FINANCIAL STATEMENTS **

**DECEMBER          31, 2005**

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|                                             |   | December                  31,2005 |       | September                  30, 2005 |   | September                  30 2004 |   |
|--------------------------------------------------|--------|-----------------------------------|------------|-------------------------------------|--------|------------------------------------|--------|
| Deferred                  Tax Assets:            |   |                              |       |                                |   |                               |   |
| Net                  operating loss carryforward |   | $                                 | 2,802,000  |                                | $      | 2,304,000                          |   | $ | 1,681,000 |   |
| Other                                            |   |                              | 67,000     |                                |   | 67,000                             |   |   | — |   |
|                                             |   |                              | 2,869,000  |                                |   | 2,371,000                          |   |   | 1,681,000 |   |
|                                             |   |                              |       |                                |   |                               |   |   |   |   |
| Deferred                  Tax Liabilities        |   |                              | (24,000    | )                                   |   | (24,000                            | )      |   | — |   |
|                                             |   |                              |       |                                |   |                               |   |   |   |   |
| Valuation                  Allowance:            |   |                              |       |                                |   |                               |   |   |   |   |
| Beginning                  of year               |   |                              | (2,347,000 | )                                   |   | (1,681,000                         | )      |   | (1,450,000 | ) |
| (Increase)                  decrease             |   |                              | (174,000   | )                                   |   | (666,000                           | )      |   | (231,000 | ) |
| End                  of year                     |   |                              | (2,521,000 | )                                   |   | (2,347,000                         | )      |   | (1,681,000 | ) |
|                                             |   |                              |       |                                |   |                               |   |   |   |   |
| Net                  Deferred Tax Assets         |   | $                                 | —    |                                | $      | —                            |   | $ | — |   |

**NOTE        4 -  MINERAL PROPERTIES**

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**TREND          MINING COMPANY**

**(AN          EXPLORATION STAGE COMPANY)**

**CONDENSED          NOTES TO THE FINANCIAL STATEMENTS **

**DECEMBER          31, 2005**

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**NOTE        5 -  COMMON STOCK, OPTIONS AND WARRANTS**

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**TREND          MINING COMPANY**

**(AN          EXPLORATION STAGE COMPANY)**

**CONDENSED          NOTES TO THE FINANCIAL STATEMENTS **

**DECEMBER          31, 2005**

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|                                                                                 |   | Number                  of                  Shares |      |  Weighted                  Average Exercise Price |   |
|--------------------------------------------------------------------------------------|--------|----------------------------------------------------|-----------|--------------------------------------------------------|--------|
|                                                                                 |   |                                               |      |                                                   |   |   |   |
| Outstanding                  at October 1, 2005                                      |   |                                               | 2,200,000 |                                                   | $      | 0.37 |   |
| Granted                                                                              |   |                                               | -         |                                                   |   | - |   |
| Exercised                                                                            |   |                                               | -         |                                                   |   | - |   |
| Expired                                                                              |   |                                               | -         |                                                   |   | - |   |
| Outstanding                  at December 31, 2005                                    |   |                                               | 2,200,000 |                                                   | $      | 0.37 |   |
| Options                  exercisable at December 31, 2005                            |   |                                               | 1,650,000 |                                                   | $      | 0.39 |   |
|                                                                                 |   |                                               |      |                                                   |   |   |   |
| Weighted                  average fair value of options granted at December 31, 2005 |   |                                               |      |                                                   |   | - |   |

| Total                  compensation costs related to non-vested stock options as of December                  31,                  2005 |   | $      | 84,760                    |   |
|-----------------------------------------------------------------------------------------------------------------------------------------|--------|--------|---------------------------|--------|
| Weighted                  average period of nonvested stock options as of December 31,                  2005                            |   |   | 9                  months |   |

| Number                  of Warrants |   |  Strike                  Price |   | Expiration                  Date |   |
|-------------------------------------|--------|-------------------------------------|--------|----------------------------------|--------|
| 2,166,667                           |   | $                                   | 0.25   |                             |   | 2/21/2006 |   |
| 825,002                             |   | $                                   | 0.25   |                             |   | 2/21/2006 |   |
| 250,000                             |   | $                                   | 0.25   |                             |   | 2/21/2006 |   |
| 7,954,761                           |   | $                                   | 0.40   |                             |   | 9/30/2006 |   |
| 150,000                             |   | $                                   | 1.00   |                             |   | 1/30/2007 |   |
| 520,000                             |   | $                                   | 1.00   |                             |   | 9/30/2007 |   |
| 113,413                             |   | $                                   | 1.00   |                             |   | 5/31/2007 |   |
| 1,733,333                           |   | $                                   | 0.50   |                             |   | 1/27/2010 |   |
| 825,002                             |   | $                                   | 0.50   |                             |   | 1/27/2010 |   |
| 200,000                             |   | $                                   | 0.50   |                             |   | 3/22/2010 |   |
| 14,738,178                          |   |                                |   |                             |   |   |   |

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**TREND          MINING COMPANY**

**(AN          EXPLORATION STAGE COMPANY)**

**CONDENSED          NOTES TO THE FINANCIAL STATEMENTS **

**DECEMBER          31, 2005**

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**NOTE        6 -  RELATED PARTY TRANSACTIONS**

**NOTE        7 - CONVERTIBLE DEBT**

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**TREND          MINING COMPANY**

**(AN          EXPLORATION STAGE COMPANY)**

**CONDENSED          NOTES TO THE FINANCIAL STATEMENTS **

**DECEMBER          31, 2005**

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**TREND          MINING COMPANY**

**(AN          EXPLORATION STAGE COMPANY)**

**CONDENSED          NOTES TO THE FINANCIAL STATEMENTS **

**DECEMBER          31, 2005**

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**NOTE        8 -  COMMITMENTS AND CONTINGENCIES**

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**TREND          MINING COMPANY**

**(AN          EXPLORATION STAGE COMPANY)**

**CONDENSED          NOTES TO THE FINANCIAL STATEMENTS **

**DECEMBER          31, 2005**

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**NOTE        9 -  CONCENTRATIONS **

**NOTE        10 -  FORGIVENESS OF DEBT**

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**ITEM      2. **
**MANAGEMENT'S      DISCUSSION AND ANALYSIS OR PLAN OF OPERATION. **

**General**

**Results      of Operations**

**Liquidity      and Capital Resources**

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**Off-Balance      Sheet Arrangements**

**ITEM      3. **
**CONTROLS      AND PROCEDURES**

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**FORWARD-LOOKING      STATEMENTS **

**PART      II - OTHER INFORMATION**

**ITEM      1. **
**LEGAL      PROCEEDINGS**

**ITEM      2. **
**UNREGISTERED      SALES OF EQUITY SECURITIES AND USE OF PROCEEDS.**

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**ITEM      3. DEFAULTS UPON SENIOR SECURITIES**

**ITEM      4. SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS**

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**ITEM      5. OTHER INFORMATION**

**ITEM      6. EXHIBITS AND REPORTS ON FORM 8-K**

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**SIGNATURES**

|                                 |                                                                                             |                    |
|--------------------------------------|--------------------------------------------------------------------------------------------------|-------------------------|
|                                 | **TREND              MINING COMPANY**                                                            |
|                            |                                                                                        |               |
| Date:              February 21, 2006 | By:                                                                                    | /s/ Thomas Loucks  |
|                                 | Thomas              Loucks                                                                       |
|                                 | President                and Chief Executive Officer(Principal                Executive Officer) |

|         |                                                                                                                  |                   |
|--------------|-----------------------------------------------------------------------------------------------------------------------|------------------------|
|    |                                                                                                             |              |
|         | By:                                                                                                         | /s/ John P. Ryan  |
|         | John                P. Ryan                                                                                           |
|         | Treasurer                  and                  Chief Financial Officer(Principal                  Financial Officer) |

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